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Loan and Incentives: Is it Possible...

Discussion in '2nd Gen. Tacomas (2005-2015)' started by DunhamAll, Apr 1, 2012.

  1. Apr 1, 2012 at 5:47 AM
    #1
    DunhamAll

    DunhamAll [OP] Well-Known Member

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    Preparing to take delivery on my truck and looking at incentives. Do you think Toyota will give me the college grad incentive if I have a May 2010 college grad (within the two year window) co-sign a loan with me? Or would I have to put that person on the Title? Or will they just flat out say No Way Jose!?

    I guess same hypothetical situation for the Mili. Discount.

    I may get a co-signer anyway, and this may be an opportunity to drop the price $500-$1000K.
     
  2. Apr 1, 2012 at 6:30 AM
    #2
    Simon's Mom

    Simon's Mom Wag More Bark Less

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    From Toyota Financial Services
    Making the grade: How to qualify
    To qualify for the rebate, you’ll need to meet the following graduation, employment, insurance and credit criteria requirements.
    •Earn your degree. To take advantage of the program, you must meet one of the following:


    ◦Have graduated from an accredited four-year college, university, or registered nursing degree program during the last two years or graduate from such a school/program within the next six months
    ◦Have graduated from an accredited two-year college during the last two years
    ◦Be enrolled in an accredited graduate degree program or have received a degree from an accredited graduate program during the last two years
    ◦Have graduated during the last two years from the two-year Toyota Technical Education Network (T-TEN) Program or any other two-year post secondary automotive program accredited by the NATEF
    ◦Have completed an electrician apprenticeship/certification program during the last two years through the NJATC and the IBEW
    •Get to work. At contract signing, show proof of present employment or future employment with a start date within 120 days of your purchase contract date. Note that TFS must deem your income sufficient to cover living expenses and vehicle payments.
    If you meet all the above criteria but have experienced credit lapses, don’t give up. You may still qualify if you’ve paid off your obligations within 60 days or less of the due date and do not have charge-offs totaling more than $1,000 in the past 24 months.

    The applicant or co-applicant must meet all of the college graduate program qualifications.


    Military Program
    You rank with us

    When it comes to supporting our troops, everyone wants to do their part. At Toyota, that means offering all eligible U.S. military personnel a $500 rebate toward any new Toyota vehicle when you finance through your Toyota dealer and Toyota Financial Services.1

    To qualify for the rebate, you must meet these conditions at the time of purchase:


    •Be in current active duty status in the U.S. Military (Navy, Army, Air Force, Marines, National Guard, Coast Guard and active Reserve) OR a U.S. Military inactive reserve (i.e., Ready Reserve) that is part of the individual Ready Reserve, Selected Reserve and Inactive National Guard. Retired Military Personnel are not eligible.

    •Provide verifiable proof of military status or active service at the time of purchase:
    ◦Leave and Earning Statement or
    ◦Military Identification Card (Photo copy of Military Identification Card is NOT required.)

    •Receive a salary sufficient to cover ordinary living expenses and payments for your Toyota

    •Receive credit approval through a Toyota dealer and Toyota Financial Services

    As a retired veteran I wasn't eligble but it sounds like as a co-signer who meets the criteria you would be good to go.
     
  3. Apr 1, 2012 at 7:28 AM
    #3
    ShaneG

    ShaneG Well-Known Member

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    Getting a recent graduate to co-sign should not be a problem. I picked up a new Taco about 6 months ago. My degree was too distant for them to honor the deal, but my wife's graduation fell within the window. So, I was able to qualify for a $500 military rebate and my wife, the co-signer, helped me receive an additional $1000.
     
  4. Apr 1, 2012 at 4:38 PM
    #4
    jbrenn

    jbrenn Well-Known Member

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    when i did it in 2/10 i to put the cosigner on the title. It was worth it to get an extra grand off.
     
  5. Apr 1, 2012 at 4:43 PM
    #5
    jtav2002

    jtav2002 Kenny Fuckin Powers

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    I assume you're referring to have a spouse co-sign? Otherwise you must know some crazy people to want to co-sign on a vehicle for you.
     
  6. Apr 1, 2012 at 6:44 PM
    #6
    Kevin C

    Kevin C Well-Known Member

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    I would never co-sign or ask someone to co-sign on a loan, period. That's just me.
     
  7. Apr 1, 2012 at 6:51 PM
    #7
    Rich91710

    Rich91710 Well-Known Member

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    On the loan = on the title.
    Not on the loan = not on the title.

    My wife got the financing for my Taco... my name is not on the title... I have to use one of my motorcycle registration tags when I buy a gun.
     
  8. Apr 1, 2012 at 7:26 PM
    #8
    luka

    luka Well-Known Member

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    interesting, I wasn't sure if you could get both incentives. I just graduated about 6 months ago
     
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